On March 27, the Hub and the Tanzania Investment Centre (TIC) signed a memorandum of understanding to formalize their commitment toward joint investment promotion activities in Tanzania, particularly in the Hub’s priority sectors of agribusiness and agro processing, ICT and innovation, financial services and cotton, textile and apparel. The Hub will build the capacity of TIC and its partners to take advantage of trade opportunities between the U.S. and Tanzania, including through trade incentives like the African Growth and Opportunity Act. The Hub will work with TIC to increase their capacity to improve their overall approach in promoting East Africa as one investment destination. The Hub will also share Tanzania-specific, investment-ready pipeline transactions with TIC, so that they may share the opportunities with their investor database.
This MOU will significantly support TIC in our mandate to be a best-in class Investment Promotion agency in the region, said Tanzania Investment Commission Chief Executive Officer Clifford Tandari.
We are very excited to sign this MOU with TIC and leverage Tanzania's top position as the EAC member country that received the highest level of FDI in 2016. Our work will focus will on supporting TIC and the region as a whole in attracting sustainable investment,” said Hub’s Investment Director, Kanini Mutooni